Causes of Crime

[ZeroJunk]

Originally Posted by merrylander

Do you ever stay on subject sonny?

You claimed that all that was needed was a good work ethic. Tell us oh wise one WTF good is a good work ethic when there are no jobs to be had?

I was in the work force from 17 until 73 how's that for a work ethic? I was also in the top tax bracket when I retired.

There is a portion of the population in this country that has never worked and is never going to work. I know a bunch of them personally. And, the only thing wrong with them is between their ears.

Now, they are going to get by. But, they are never going to have anything.

The thing about working and making money is that you spend it and it makes jobs for other people.

Glass empty/ full and it is always empty with you.

I am not talking about something that happens overnight , but the less people work the less demand there is for products and there is a circle.

If everybody in this country was educated and ambitious things would improve.

The more drop outs and government dependents you have the worse it will get.

[ZeroJunk]

Originally Posted by merrylander

Well y'all created this half assed mortgage system. The laughable part of it all is that (on a per capita basis) home ownership is marginally higher in Canada then it is here.

They don't have mortgage brokers

They don't have Title companies.

Mortgages are 25/5 or less.

Fortunately the also do not have Wells Fargo and Bank America either (In case you were looking for the real culprits).

Because our credit scores were above 800 our mortgage (when we still had one) got bundled so many times just to make the securities look sweet we ended up with a new 'bank' every year.

If I was trying to design a system wide open to fraud it would be the system we have here.

The difference I have with your statement is that it was the government that created it. The banks wanted no part of it. That is the reason those weird instruments were created to start with.

[merrylander]

Originally Posted by ZeroJunk

The difference I have with your statement is that it was the government that created it. The banks wanted no part of it. That is the reason those weird instruments were created to start with.

The banks wanted no part of it? You must be joking, for the banks it is a license to print money.

Mortgage broker finds a lender, pockets 1% and disappears

Lender bundles mortgage, pockets 2% sells security bundle and disappears.

Title company sells poor sod $400 worth of title insurance and get 80% as its fee ($320)

[merrylander]

Originally Posted by ZeroJunk

There is a portion of the population in this country that has never worked and is never going to work. I know a bunch of them personally. And, the only thing wrong with them is between their ears.

Now, they are going to get by. But, they are never going to have anything.

The thing about working and making money is that you spend it and it makes jobs for other people.

Glass empty/ full and it is always empty with you.

I am not talking about something that happens overnight , but the less people work the less demand there is for products and there is a circle.

If everybody in this country was educated and ambitious things would improve.

The more drop outs and government dependents you have the worse it will get.

So with all the jobs shipped offshore how much demand do you expect to see?

Laddie all I expect to see is the rich get obscenely rich and the middle class get screwed. I think you read Atlas Shrugged one time to many.

You really should have read Aristophanes "The Birds"

[Tom Joad]

Originally Posted by ZeroJunk

For years people complained because they could not get a loan. And, then they complained because they could.

Every since I can remember, up until George W. Bush was inaugurated, the only way you could get a mortgage loan was if you could prove to the lender that you has the wherewithall to pay it back. That's why mortgage backed securities were considered a solid gold investment.

Then the scamers came in and started making loans to people who didn't have a chance in Hell of paying them back. Of course they didn't give a shit because as soon as they got their piece of the action they pawned those loans off to somebody else by telling them they were just as good as ever, even though they knew full well they weren't worth the paper they were written on.

That's fraud and every one of those motherfuckers should be rotting in prison right now.

[ZeroJunk]

Originally Posted by Tom Joad

Every since I can remember, up until George W. Bush was inaugurated, the only way you could get a mortgage loan was if you could prove to the lender that you has the wherewithall to pay it back. That's why mortgage backed securities were considered a solid gold investment.

Then the scamers came in and started making loans to people who didn't have a chance in Hell of paying them back. Of course they didn't give a shit because as soon as they got their piece of the action they pawned those loans off to somebody else by telling them they were just as good as ever, even though they knew full well they weren't worth the paper they were written on.

That's fraud and every one of those motherfuckers should be rotting in prison right now.

It is true that Democrats are too stupid to know whether or not they can pay back a loan and don't care whether they can or not. That is part of being a Democrat.

[Tom Joad]

Originally Posted by merrylander

The banks wanted no part of it? You must be joking, for the banks it is a license to print money.

Mortgage broker finds a lender, pockets 1% and disappears

Lender bundles mortgage, pockets 2% sells security bundle and disappears.

Title company sells poor sod $400 worth of title insurance and get 80% as its fee ($320)

When I bought my first house in 1978 the bank put me through the ringer to get a mortgage. The same thing happened on house number 2 in 1986.

Then, in 2004, on house number 3 things changed. I had to deal with a "Mortgage Broker" And he acted pissed because he wanted me to go for the full amount I was approved for, instead of 40% of that amount, which was the maximum I felt comfortable with. In other words he tried to talk me into taking out a loan that would have me eating sitting on a milk crate eating Ramen noodles under a 15 Watt light bulb so that he could get a bigger commission. He didn't give a shit about whether or not I defaulted.

I said "No Thanks", but that's because I've been around the block a few times.

I can see where a lot of naive young people might think "If they approved me for that much, it must be OK".

[donquixote99]

Originally Posted by ZeroJunk

It is true that Democrats are too stupid to know whether or not they can pay back a loan and don't care whether they can or not. That is part of being a Democrat.

You don't argue honestly. You can be hit by a point as big as a house and you just ignore it.

[Tom Joad]

Originally Posted by Zeke

Before or after figuring out I'd put you there without trying?

That's bold talk for a $10 an hour Mall Cop.

What are you going to do?

Run me over with your Segway?

[BlueStreak]

Originally Posted by ZeroJunk

One could argue that the expansion of entitlements was political.

If they did not overwhelmingly vote Democrat the entitlements would be reined in.

In the long run they are unsustainable.

One could also argue that the demonization and reining in of "entitlements" is purely political, feeding off of the desires and votes of cheap skates such as yourself.